Hyderabad recorded registrations of 6,268 residential properties in November 2023, recording a rise of 2% year-on-year (YoY) and 8% month-on-month (MoM), as per the latest report from Knight Frank India. The total value of properties registered during the month stood at Rs 3,741 crore, which is higher by 29% YoY and 18% MoM indicating a movement towards sale of higher value homes. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Residential property registrations in Hyderabad
| 2022 | 2023 | YoY | MoM | 2022 | 2023 | YoY | MoM | |
| Volume Split (No of units) | Registration Value Split (INR cr) | |||||||
| January | 7,343 | 5,454 | -26% | -14% | 3,261 | 2,650 | -19% | -17% |
| February | 5,435 | 5,725 | 5% | 5% | 2,839 | 2,987 | 5% | 13% |
| March | 6,722 | 6,959 | 4% | 22% | 3,135 | 3,602 | 15% | 21% |
| April | 5,366 | 4,494 | -16% | -35% | 2,784 | 2,286 | -18% | -37% |
| May | 6,307 | 6,039 | -4% | 34% | 3,061 | 3,068 | 0% | 34% |
| June | 5,411 | 5,566 | 3% | -8% | 2,842 | 2,897 | 2% | -6% |
| July | 4,406 | 5,557 | 26% | 0% | 2,129 | 2,878 | 35% | -1% |
| August | 5,656 | 6,493 | 15% | 17% | 2,845 | 3,461 | 22% | 20% |
| September | 4,766 | 6,304 | 32% | -3% | 2,378 | 3,459 | 45% | 0% |
| October | 4,634 | 5,799 | 25% | -8% | 2,252 | 3,175 | 41% | -8% |
| November | 6,162 | 6,268 | 2% | 8% | 2,903 | 3,741 | 29% | 18% |
| Registration (No. of units) | Registration value (INR cr) | |||
| Period | Jan- Nov | YoY change | Jan- Nov | YoY change |
| YTD 2021 | 75,452 | NA | 33,531 | NA |
| YTD 2022 | 62,208 | -18% | 30,429 | -9% |
| YTD 2023 | 64,658 | 4% | 34,205 | 12% |
Ticket-size share of residential property registrations in Hyderabad
In November 2023, the highest proportion of property registrations in Hyderabad was in the price range of Rs 25–50 lakh, accounting for 48% of the total registrations. Properties priced below Rs 25 lakh constituted 13% of the total registration which has fallen from the 23% share recorded during November 2022. The share of sales registrations for properties with ticket-sizes of Rs 1 crore and above was 13% in November 2023, higher as compared with 7% in November 2022.
| Ticket-size | November 2022 | November 2023 |
| Less than Rs 25 lakh | 23% | 13% |
| Rs 25-50 lakh | 50% | 48% |
| Rs 50-75 lakh | 14% | 17% |
| Rs 75 lakh-1 crore | 6% | 9% |
| Rs 1 -2 Crore | 6% | 10% |
| More than Rs 2 crore | 1% | 3% |
Unit-size share of residential property registrations in Hyderabad
Properties registered in November 2023 were largely concentrated in the range of 1,000-2,000 square foot (sqft), with this size category accounting for 71% of registrations. There was a moderation in demand for smaller homes (below 1,000 sqft), with registrations for this category falling to 15% during November 2023 from 25% in November 2022. However, properties larger than 2,000 sqft saw an increase in demand, with registrations rising to 14% during November 2023 from 11% in November 2022.
| Unit-size (in sqft) | November 2022 | November 2023 |
| 0-500 | 3% | 2% |
| 500-1,000 | 22% | 13% |
| 1,000-2,000 | 65% | 71% |
| 2000-3000 | 9% | 11% |
| >3000 | 2% | 3% |
District-wise share of residential property registrations in Hyderabad
As per the district-level study conducted in November 2023, Medchal-Malkajgiri and Rangareddy emerged as the primary contributors, each comprising 43% of the total registrations. Hyderabad district accounted for 14% of the total registrations in November 2023, identical to its share in the previous period.
| District | November 2022 | November 2023 |
| Hyderabad | 14% | 14% |
| Medchal-Malkajgiri | 40% | 43% |
| Rangareddy | 39% | 43% |
| Sangareddy | 7% | 0% |
Weighted average property price in Hyderabad’s districts
During November 2023, the weighted average prices of transacted residential properties witnessed a YoY increase of 13.8%. Among the districts, Rangareddy experienced the sharpest increase at 17% while Hyderabad and Medchal-Malkajgiri both experienced an 8% increase in property prices respectively.
| District | Weighted Average Transacted price
(INR per sq ft) |
November 2023
(YoY change) |
| Hyderabad | 4,514 | 8% |
| Medchal-Malkajgiri | 3,204 | 8% |
| Rangareddy | 4,467 | 17% |
| Total Market | 3,991 | 13.8% |
Residential sales in Hyderabad during November 2023 were mainly within properties sized 1,000-2,000 sqft whereas the price range of Rs 25–50 lakh, accounted for the highest registrations. However, beyond the concentration of bulk transactions homebuyers also bought plush properties, which are bigger in size and which offer better facilities and amenities. Some of these deals have happened in markets like Hyderabad and Rangareddy wherein the properties were sized more than 3,000 sqft and valued upwards of Rs 5 crore.
Top five residential property transactions in Hyderabad in November 2023
| District Name | Location | Area range (sqft) | Market Value (Rs) |
| Rangareddy | Begumpet | >3,000 | 10,61,28,000 |
| Hyderabad | Banjara Hills | >3,000 | 7,78,24,000 |
| Hyderabad | Banjara Hills | >3,000 | 7,47,84,000 |
| Hyderabad | Banjara Hills | >3,000 | 5,60,04,400 |
| Hyderabad | Banjara Hills | >3,000 | 5,37,24,400 |
Shishir Baijal, chairman and managing director, Knight Frank India said, “The Reserve Bank of India’s decision to maintain stable interest rates since April 2023 has significantly bolstered homebuyer confidence in Hyderabad which has led to a consistent growth in sales. This optimistic market outlook is evident in the rising number of property developments, showcasing developers’ agility in meeting the evolving preferences of discerning buyers. The impact is reflected not just in a noticeable price increase but also in the heightened desire for superior homes with comprehensive amenities.”
Types of apartments launched in Hyderabad
In context to demand analysis, probing into the launch trends within the Hyderabad real estate market is crucial. Keeping homebuyers’ preference in mind, there is a notable bias in development activity towards 3 BHKs, closely trailed by 2 BHK units. Hyderabad developers have evidently placed a preference on introducing 3 BHK units, showcasing a distinct predilection for more expansive residences. This strategic emphasis aligns seamlessly with the evolving tastes of homebuyers, who increasingly seek larger living spaces to accommodate growing families. Noteworthy is the discernible inclination of developers in 2023 towards launching larger-sized units, particularly in the 4BHK category, with a notable increase from 5% in 2022 to 9% in 2023 (YTD).
| Type of Apartment | 2022 | YTD 2023 |
| 1BHK | 2% | 2% |
| 2BHK | 35% | 28% |
| 2.5BHK | 1% | 2% |
| 3BHK | 56% | 57% |
| 3.5BHK | 0% | 1% |
| 4BHK | 5% | 9% |
| 5BHK | 0% | 1% |
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
